News
China quarantines banknotes in SARS scare
China's banks are taking steps to halt the spread of the SARS virus and the central bank has urged people to use cards instead of cash. Other steps include sterilising banknotes with disinfectant, according to Dow Jones.
Duisenberg heir need not be French, lawmaker says
Christa Randzio-Plath, chairwoman of the European Parliament's monetary committee, has said that Wim Duisenberg's successor at the ECB does not have to be French, commenting "We have not only to look at nationality", according to Bloomberg News.
ECB warns SARS more damaging than war
In an interview with Spanish newspaper Il Sole 24 Ore, Tommaso Padoa-Schioppa, an executive member of the ECB, said the negative impact of the Iraq war could be outweighed by the effect of the SARS virus.
BMA chief to chair Jeddah conference
Bahrain Monetary Agency (BMA) Governor Shaikh Khalifa will chair the second meeting of the Islamic Financial Services Board (IFSB) Council meeting at the Islamic Development Bank on Wednesday 30 April, according to the Gulf Daily News.
Iraq central bank staff ready for return to work
Al Jazeera reports that staff of the looted and destroyed central bank of Iraq are ready to return to work - if there is security and another location can be found.
ECB's Duisenberg implies he will leave in a year
The European Central Bank published its annual report for 2002 on Tuesday with Wim Duisenberg hinting that he would not be at the ECB this time next year. "This will be the last foreword of an ECB Annual Report to bear my signature," he said in the…
Bank of Canada appoints new deputy governors
The Bank of Canada announced the appointment of two deputy governors to its interest rate setting governing council on Tuesday. David Longworth joined the Bank of Canada in 1974 and Mark Carney represents the addition of an outsider from an investment…
Ensuring a balanced ECB Executive Board
On Tuesday 29 April at 9.30 , the Committee of Economic and Monetary Affairs will be holding a Confirmation Hearing of Gertrude Tumpel-Gugerell who has been nominated by the Council of Ministers as a member of the Executive Board of the European Central…
Greenspan returns to work after surgery
After undergoing surgery Alan Greenspan was back at work towards the end of last week for what was described as a routine work day, Associated Press reports.
NZ c bank to appoint new external monetary adviser
The Reserve Bank of New Zealand will appoint a new external monetary policy adviser, after placing newspaper adverts at the weekend, according to Dow Jones. The position plays a central role in advising the bank's governor Alan Bollard on interest rate…
Philippines c bank to tighten dollar transactions
The monitoring of dollar transactions will be tightened by the BSP (Bangko Sentral ng Pilipinas, the country's central bank)as part of an effort to plug loopholes in existing rules on currency forward transactions, says BusinessWorld.
Estonian central bank reappoints auditor
The Bank of Estonia has asked parliament to reappoint Deloitte & Touche as auditors, according to the Baltic News Service The company audited the central bank's results for 2002.
ECB voting change could hinder UK euro entry
The UK's treasury select committee said on Monday April 28 in a report that the ECB's proposed change in voting arrangements could pose an "obstacle to entry" for Britain and the euro, according to the Financial Times.
Lithuania may be first from east to adopt euro
Lithuanian central bank chief Reinoldijus Sarkinas has said the east European country could be the first to adopt the euro in 2007 as it already meets conditions to adopt the single currency, according to a report by Bloomberg.
Bank of France :Trichet to propose branch closures
A report from Bloomberg news says Bank of France governor Jean-Claude Trichet will probably inform the central bank's board members that he plans to cut the central bank's branch network by more than 100.
Chile's new central bank chief tough but popular
The newly appointed president of Chile's central bank Vittorio Corbo has said the tight grip on inflation will be maintained as he takes office. Corbo is reported to joke, in the Reuters report, that markets rally every time U.S. Federal Reserve Chairman…
Repo rate left unchanged by Riksbank at 3.5%
Sweden's central bank left interest rates unchanged at its Thursday meeting citing the picture of future inflation it presented in the March Inflation Report as a major reason for the decision.
Chile appoints Corbo as new central bank president
Vittorio Corbo has been named the new president of the central bank of Chile, reports Reuters. The decision made by Chilean President Ricardo Lagos comes after Corbo's appointment to the Board of the central bank in early April.
Egypt's Shura Council gives approval to bank law
The draft law of the central bank of Egypt on the banking sector and foreign currency has been approved by the Shura Council, according to a report by the MENA news agency.
Uganda's c bank appeals against Sh700m tax bill
The Bank of Uganda is appealing against a decision by the Revenue Authority to charge the central bank sh700m in taxes after it sold property, All Africa News reports.
Czech president slams central bank over deflation
An overly restrictive monetary policy has been blamed by the Czech President Vaclav Klaus for the deflationary trend seen in the past three months. Klaus also criticised inflation targeting saying it was only useful for discussions at economics…
Moskow says deflation unlikely but Fed stands by
The threat of inflation is low for the US economy, Reuters reports that Chicago Fed chief Michael Moskow said on Thursday April 24, but the Fed stands ready to react should it occur.
Swedish trade minister on ECB vote proposals
Sweden's trade minister has said the proposals for reform of the voting arrangements on the ECB's governing council will leave Sweden without a worthwhile role and the Swedish people as less than full participants, according to a report in the Swedish…
Bank of England condemns rise of red tape
In a report published on Thursday 24 April the Bank of England criticised proposed changes to the Consumer Credit Act saying it could lead to more complex regulation and limit competition, according to the Daily Telegraph.